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HomeNewsPratham EPC Projects IPO closes today: Check GMP, subscription status and key...

Pratham EPC Projects IPO closes today: Check GMP, subscription status and key details here

Pratham EPC Projects IPO: The initial public offering (IPO) of Pratham EPC Projects will close for bidding today (March 13). The SME IPO has so far witnessed a strong demand from investors. The issue which opened for subscription on March 11 has been heavily oversubscribed so far. Through the issue, the end-to-end services provider to oil and gas utilities in India plans to raise 36 crore.

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Pratham EPC Projects IPO Subscription Status

The IPO was subscribed 23.78 times on Tuesday (March 12), the second day of the bidding as the issue received bids for 7.59 crore equity shares as against 31.93 lakh shares on the offer. In the retail category, the IPO was subscribed 39.33 times, 0.03 times in the Qualified Institutional Buyer (QIB) category, and 19.13 times in the Non-Institutional Investors (NII).

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Pratham EPC Projects IPO GMP

The grey market premium was at 85 per share indicating that Pratham EPC Projects shares were trading at a premium of over 113% at 160 apiece in the grey market against its IPO price of 75 per share.

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Pratham EPC IPO

The IPO opened on March 11 and close on March 13. The allotment is expected to be finalized on March 14 and the shares of Pratham EPC Projects will be listed on NSE SME likely on March 18. The price band of the issue has been set at 71 to 75 per share. The IPO is entirely a fresh issue of 48 lakh equity shares and the lot size is 1,600 shares while the minimum investment amount required by retail investors is 120,000.

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The net proceeds from the IPO will be used by the company to purchase machinery, meet working capital requirements and general corporate purposes.

The book-running lead manager of the Pratham EPC Projects IPO is Beeline Capital Advisors Pvt Ltd. The registrar of Pratham EPC IPO is Link Intime India Private Ltd.

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